A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. Pell Grants are usually a foundation of financial aid, to which aid from other federal and nonfederal sources might be added.  Federal Pell Grant awards vary based upon your Expected Family Contribution (EFC) and your actual enrollment status.  To qualify for a Federal Pell Grant, the total expected family contribution (EFC) cannot exceed 4110.

APPLY ONLINE: http://www.fafsa.ed.gov
To apply for federal aid, you must complete the Free Application for Federal Student Aid using the link above.  The Federal School Code you will need for Gateway Community and Technical College is 013753.

For more information regarding the Federal Pell Grant, see the following link:
http://www.studentaid.ed.gov  
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Federal Stafford Loans (FFEL) are either subsidized or unsubsidized. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period. A subsidized loan is awarded on the basis of financial need. You won’t be charged any interest before you begin repayment or during authorized periods of deferment. The federal government “subsidizes” the interest during these periods.

An unsubsidized loan is not awarded on the basis of need. You will be charged interest from the time the loan is disbursed until it’s paid in full. You may allow the interest to accrue (accumulate) while you’re in school or during other periods of nonpayment, but if you do it will be capitalized — that is, the interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.

You apply using the FAFSA and answering that you are interested in student loans or contact the financial aid office after completing your FAFSA.  You will then receive an award letter via mail with instructions on how to sign your Master Promissory Note (MPN) and complete the required Entrance Counseling session. The MPN is a binding legal document; when you sign it, you’re agreeing to repay your loan under certain terms. Read the note carefully and save it.  The entrance counseling session is designed to ensure you know the ramifications of taking out a student loan along with your rights and responsibilities.

How much can you borrow?
• Dependent Undergraduate Student
  1st Year (0-29 credit hours): $3,500
  2nd Year (30+ credit hours): $4,500
• Independent Undergraduate Student
  1st Year (0-29 credit hours): $7,500 (only $3,500 of this amount may be in subsidized loans)
  2nd Year (30+ credit hours): $8,500 (only $4,500 of this amount may be in subsidized loans)
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An SEOG is for undergraduates with exceptional financial need—that is, students with the lowest expected family contributions (EFCs) — and gives priority to students who receive Federal Pell Grants. An FSEOG doesn’t have to be paid back.  Note: these funds are very limited so be sure to apply early.
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The College Access Program (CAP) helps Kentucky’s financially needy undergraduate students attend public and private colleges and universities, proprietary schools, and technical colleges. CAP Grants are awarded to Kentucky residents enrolled for at least six semester hours (half time) in academic programs that take at least two years to complete. KCTCS defines academic programs at least two years in length as all diploma and associate degree academic plans. Most certificate plans are not eligible for CAP awards. To qualify for a CAP Grant, the total expected family contribution (EFC) cannot exceed 4110.

The maximum award for the 2007-2008 academic year is $1,900 ($950 per semester). Eligible part-time college students will receive an amount calculated on $79 a credit hour.

The CAP funds funds are limited so priority is given to students who complete the FAFSA by March 15th for the upcoming academic year.

To apply, students must complete a Free Application for Federal Student Aid (FAFSA). You can obtain a FAFSA from high school counselor offices, college financial aid offices, or you can apply online, see Pell Grant. For more information on CAP see the following link: http://www.kheaa.com
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Governor Paul E. Patton and the 1998 General Assembly provided Kentucky high school students a great opportunity to make their education pay with the Kentucky Educational Excellence Scholarship (KEES)! KEES is administered by the Kentucky Higher Education Assistance Authority (KHEAA). Students who try to get the most from high school by studying hard and making good grades (2.5 GPA or higher) can earn scholarships for college or technical school. The better students do in high school, the more they will earn toward college scholarships. And students who complete their college studies have a better opportunity to achieve their career goals and improve their standard of living. Education really does pay! For more information on KEES, see the following link: http://www.kheaa.com
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Scholarship aid is gift assistance funded and awarded by the College and by various local, state, and national organizations. Most scholarship award decisions are based on a student's academic achievement as well as his or her financial need.
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Federal Work-Study (FWS) provides part-time jobs for undergraduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the recipient's course of study. Federal Work-Study can help you get valuable experience in your chosen field before you leave school. You'll be paid by the hour. Your school must pay you directly at least once a month.

Wages for the program must equal at least the current federal minimum wage but may be higher, depending on the type of work you do and the skills required. Your total Federal Work-Study award depends on when you apply, your financial need, and the funding level at your school. The amount you earn can't exceed your total FWS award. When assigning work hours, your employer or financial aid administrator will consider your award amount, your class schedule, and your academic progress.
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